MEMBERSHIP TO ATCM

Every trust company registered under the Trust Companies Act 1949 is required to be member of ATCM or of a similar association unless exempted by the Companies Commission of Malaysia CCM.

A trust company registered under the Trust Companies Act 1949 can apply to be member of ATCM by sending an email to the ATCM Secretariat at atcmalaysiainfo@gmail.com to request for a membership form.

 

Every application must be accompanied with the necessary document and fee as well as the required information stated in the membership form.

 

With increasing regulatory compliance demands on trust companies, ATCM will consider the application for membership with the fulfilment of the following minimum criteria:

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• Professional Indemnity Insurance of minimum RM1 million

• Appointment of Compliance Officer by the board of directors and registered with Bank Negara Malaysia (BNM)

• Approved policies and Standard Operating Procedure (SOP) by the board of directors for:

  • onboarding clients

  • submission of Suspicious Transaction Report (STR) to BNM

  • data protection

  • anti-money laundering, terrorism financing and proceeds of unlawful activities

• Terms of Reference for Board Committees dealing with:

  • Risks and Compliance

  • Audit